The New York City Economic Development Corporation (NYCEDC) announced a 10 year, $51 million aid package to the city’s garment industry which includes “relocation, expansion and other costs for businesses that want to move from the Garment Center to Sunset Park to stabilize and strengthen the declining industry currently centered in Midtown.
The package is backed by the Council of Fashion Designers of America and the Garment District Alliance — is “the largest investment in this iconic sector in New York City history.
The money will be distributed over the next 10 years to textile and fashion companies looking to modernize their equipment, and relocate within the city — with a focus on moving to Brooklyn’s Industry City, in Sunset Park.
Brooklyn is home to a few garment startups, including Bushwick 3D-knitting company Thursday Finest, manufacturers Maker’s Row and a bunch of young designers at Pratt.
The announcement came two days after representatives from the agency officially unveiled a proposal to lift a rule requiring some building owners in the Special Garment Center District to set aside manufacturing space.
The city also laid out plans to lure garment manufacturers to Sunset Park — a neighborhood officials said could offer longer and less expensive leases for firms currently struggling to keep pace in the Garment District.
Today, there are approximately 1,500 garment manufacturing firms citywide, and about 30 percent of these businesses, or approximately 400 firms, are located in the Garment District.
These companies face immense global competition and real estate pressures despite preservation attempts, including rising commercial rents and an outdated building stock that fails to meet modern industrial needs.
The 10-year package will provide “relocation and expansion support for companies that are interested in moving from the Garment District,†including grants to cover relocation costs and employee transportation, the city said.
It also includes an initiative that will dole out grants for businesses that want to invest in new machinery and technology, training programs for workers, and inter-business networking support.
Salomon has reimagined its iconic XT_PU.RE footwear model with a focus on sustainability while ensuring the same high performance.
Fabric marketplace Recovo, Portuguese dyeing company IVN Industria, and fashion brand Salsa Jeans have joined forces to give surplus denim…
The BAYO Foundation partnered with the Armed Forces of the Philippines to launch "Weave for Peace" to transform old military…
Carnegie, a leader in sustainable textiles and acoustical solutions for commercial spaces, has unveiled Siltech Plus as part of its…
Waste management and recycling company MYGroup is launching an innovative project in Sri Lanka to promote sustainable textile production and…
Cibutex has partnered with Reju to create a network among Cibutex member companies to support circular textile regeneration.